Like the residential disclosure on earthquake weaknesses, the Commercial Property Earthquake Disclosure Report informs buyers of potential seismic hazards that may come with a parcel of commercial property. The form is to be filled out and delivered as soon as practicable when the commercial property:
- was built before 1975;
- is a precast concrete or reinforced masonry building with wood frame floors or roofs;
- has unreinforced masonry;
- has non-ductile concrete;
- contains a soft or weak story or open front; or
- has a steel frame built before 1995.
A seller or seller’s agent uses the Commercial Property Earthquake Disclosure Report published by RPI, together with a copy of the Commercial Property Owner’s Guide to Earthquake Safety, to identify any potential earthquake weaknesses a commercial property may have. [See RPI Form 315-1]
The form includes a checklist of questions, designed for the seller to answer to the best of their knowledge, with a corresponding page number for the seller to consult in the Commercial Property Owner’s Guide to Earthquake Safety, which gives more information on each question. [See RPI Form 316-2]
As with the residential version of the form, sellers of commercial property are to disclose their knowledge of weaknesses known to exist. The seller will answer with “Don’t Know” when they lack knowledge, and “Doesn’t Apply” when the building lacks the referenced feature. Questions answered “Don’t Know” may indicate a need for further evaluations by the buyer. When any of the questions are answered “No,” the building is more likely to suffer severe damage during an earthquake.
